Last checked at 27 Nov 2009 11:51
KleenAir Systems International Plc ("the Company")
Exercise of Option in relation to Convertible Loan Note
27 November 2009
The Company announces that under the secured loan note agreement dated 29 July 2009 ("the Agreement") pursuant to a loan note instrument dated 29 July 2009 ("the Loan Note Instrument"), Global Investment Strategy (UK) Ltd ("GIS") has exercised its option to subscribe for a further 32,248 £1 convertible loan notes of the Company.
These notes are to be issued on the same terms and conditions as set out in the Loan Note Instrument.
The subscription for the further convertible loan notes will yield £29,317 (after expenses) for the Company and the number of loan notes over which GIS holds an option to subscribe at £1 will reduce to 190,683 which includes a commission of 10% payable to GIS in the form of loan notes.
Enquiries:
KleenAir Systems International Plc
Wayne Reid, Executive Chairman +44 (0) 7799 690 504
W.H. Ireland +44 (0) 121 265 6330
Tim Cofman-Nicoresti